Aside from the 0% for 36 that Ford is offering, what other deals have others seen or received for their new Mustang?

I just applied for the BofA thing and got a 3.18% approval for 60 mos. Pentagon and Navy Federal are 3.99% for 60 mos.

I'm probably just going to take the 0% but the $760+ payment is a bit daunting on a car especially in this economy. Don't worry about my financial situation when providing input; I can go pretty much any route I want. I'm just curious what others are seeing/getting.

 

Financing $25k and going with Fords 0% for 36 months, provided that 0% is still offered by the time the car arrives.

 

I hear ya about the economy, but in my case (financing about $22,000) the difference would be about $1,900 taking the 3.18% for 60 months versus the 0% for 36 months.

If you can swing it, do the 0%. And in 3 years you'll be payment free!

Plus it's like getting the glass roof for free.

 

B@stards. I just talked to BofA and there's a $200 loan processing fee. It factors into the APR (3.18) because the actual loan rate is 2.89 (pretty good.) But why play games?

I asked if I could pay it up front vice financing it into the loan. She said, "No, that's why it's 3.18% instead of 2.89%."

What burns me is that they didn't disclose that on the web site at all. Instead, you had to feed them all of your information and then call them.

Oh well, had to know. Even more likely to go with 0%.

 

That's still a lot better then Ford is offering, at least for a 60 month loan. I got 3.64 for 60 months, Ford is offering 4.9% for the same time period.

 

I have found that BA always has tricks up their sleeves rather than making straightforward offers that actually interest people. Its like they sit in the conference room thinking up the next shell game.

 

5 year auto loans are too long, IMO. Go with 0% for 36 months. My 2010 GT is over 30% paid off already I'll be all set for the 2013 redesign.

 

Agreed. This is more of a management/planning tool than anything else. Keeping monthly obligations low but paying more has always been a strategy of mine. That way, if times get tough you can lower your contribution to the obligation and still not get in the hole. Obviously the cost for this is the interest you're paying for the privilege of keeping someone elses money.

What gets people in trouble is when they stretch to "afford" the monthly payments (house, car, credit card, cell phone, etc.) and then some life event changes their budget.

Given these interest rates, should I order a GT? Jokerstars?

 

A 3 year auto loan payment would about equal my house payment. No thanks!

 

Save for a larger down payment

 

in my opinion it is ok but not advisable for a 5 year payment on a NEW car. i always pay extra to get it paid off in less time. but you never know if something major hits when it is nice to have a lower payment a couple months in a row.

Now used cars never go over 4 years. and even then only use four year notes for something that is less than 2 years old.

just my humble opinion.

 

I have a rate of 3.68% for 60 months through Capital One "blank check" program.

 

Thanks for letting us know about that . . . I had a bad feeling about their lack of cooperation and communication . . . I've called and talked to several different people to try to get them to tell me the whole deal up front, and could never get them to do it. All they would tell me is "you have to do it on line." Every time I talk to them I ask myself why I still do business with them . . . and then I remember what a hassle it would be to move my accounts somewhere else, and I leave it alone.

Even with the hidden fee, I think they are still the best deal around . . . except the aformentioned 0%/36 promotioal rate from Ford.

 

I guess my %4.2 for 60 months from USAA isn't that great after all. I thought banks had worse rates!

 

Same thing happened to me on a loan for my Jeep Wrangler ... they wouldn't let me pay the $200 up front ...

 

4.2% for 60 F that...

 

Yeah, when you think about it, they're getting $200+ in interest right off the bat. So even if you pay off the loan 3 months later, they've already collected $200 + the interest for those 3 months on the loan balance.

Still, 3.18% for 60 months is pretty good.

I laughed out loud when I saw Wachovia's rate -- something like 10%.

Capital One isn't bad at 3.41% (in VA).

Jokerstars, 4.2% may be good or bad depending on your credit history.

 

That's pretty good. But I'll never give anything to Cap1 again for the rest of my life. Not even the sweat off my ...s.

Faithful customer, perfect payer, high score, yet they still reneged on their promised rate after the teaser 0%x12. Instead of 4.9var jacked to 14.9var. Even wrote the CEO but the response was unacceptable. Screw them so I switched to USB's 0x12.

At least I beat Cap1 at the game. Used the 0x12 twice but they only got the 14.9 (annualized) for 2 mos till I switched. If they were smart they would have honored their agreement and held the 4.9 - at least they would have made something after making nothing.

I had BofA's 0x12 then 9.9 so I was prepared to roll that balance. But they too jumped to 14.9.

Everyone else I deal with kept their promise. Chase (2 - pers & biz), Citi, Adv, held the 3.9 fixed c.card rate until balance is paid.

 

I just applied and they said that if you go to one of their pre-certified new car dealers they would wave the fee for me at least. My dealer was on their list. You may try that angle with them.

 

Are you putting much money down?

Lower the payment some that way, pay now or pay later.